Finance minister does not rule out market intervention over yen

Japan's Finance Minister Suzuki Shunichi has not ruled out direct market action to stop the yen's decline.

Suzuki told reporters on Wednesday he has been saying that rapid movements in the currency market are not favorable. He noted there are likely to be fluctuations over the next few days, but the overall trend is depreciation of the yen.

Suzuki said if the trend continues, the government will take necessary measures in the currency market without excluding any options.

Asked if they include market intervention, he said it is correct to think that is the case.

Reporters also asked whether the government intervened earlier on Wednesday.

Suzuki declined to comment, saying such intervention is not publicly announced. But he said that if the government does decide to intervene, it will do so instantly.

Suzuki also declined to confirm or comment if the Bank of Japan had conducted a "rate check" on financial institutions.